GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | ||||||
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08:42 Jul 15, 2004 |
German to English translations [PRO] Bus/Financial - Law: Taxation & Customs | |||||||
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| Selected response from: RobinB United States Local time: 04:38 | ||||||
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Summary of answers provided | ||||
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4 +1 | flat rate tax on interest income |
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5 | withholding tax |
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flat rate tax on interest income Explanation: "flat rate tax on interest income (Abgeltungssteuer)" -------------------------------------------------- Note added at 17 mins (2004-07-15 09:00:15 GMT) -------------------------------------------------- Perhaps \"flat-rate\" instead of \"flat rate\" Reference: http://www.qantara.de/webcom/show_article.php/_c-327/_nr-9/_... |
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withholding tax Explanation: and in this particular context: "European withholding tax on savings (income)", also known as "European withholding tax on savings in the form of interest income" (long-winded, isn't it...) It includes income from what they refer to as "debt claims", which would include the interest income on bonds you mention. -------------------------------------------------- Note added at 4 hrs 4 mins (2004-07-15 12:47:12 GMT) -------------------------------------------------- Technically, of course, an Abgeltungsteuer is a \"definitive\" withholding tax, meaning that payment of that tax settles all claims against the taxpayer on that particular source of income. Other withholding taxes are credited against e.g. income tax, corporate income tax or CGT and merely reduce the ultimate tax burden. The question of whether the tax on savings is definitive or not is a matter for the individual member states. Reference: http://europa.eu.int/scadplus/leg/en/lvb/l31050.htm Reference: http://europa.eu.int/comm/taxation_customs/taxation/informat... |
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